April 27, 2024

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[THE INVESTOR]  Four candidates have been named preferred bidders to take over Hollys F&B that operates coffee shop franchise Hollys, according to news reports on Aug. 30.

Out of eight that participated in the preliminary bid, the largest shareholder IMM Private Equity and the sales manager Deutsche Bank have short-listed four, including US private equity fund management giant Carlyle, as well as two companies and one local PEF. 

The bidding price suggested by the hopefuls is above 200 billion won (US$178.57 million). The final bid will be held in October.

IMM PE took over the food and beverage company in 2013 for 45 billion won (US$40.39 million) and has increased its stake to 91.82 percent with an additional 37 billion won investment.

By Hwang You-mee (glamazon@heraldcorp.com)